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Table 4 Coefficients of the VAR processes for the first period (1995 to 2005) and second period (2006 to 2015)

From: An analysis of price and volatility transmission in butter, palm oil and crude oil markets

   1995–2005
   Lag 1 Lag 2
  Constant EU butter Oceania butter Crude palm oil Crude oil Brent EU butter Oceania butter Crude palm oil Crude oil Brent
EU butter x 0.4110* x x x −0.1466*** x x x
Oceania butter x 0.220** 0.3788* x x 0.2648 x x x
Crude palm oil x x x 0.3447* x x x −0.3899* x
Crude oil Brent x x x x x x −0.3313 x x
   2006–2015     
   Lag 1     
  Constant EU butter Oceania butter Crude palm oil Crude oil Brent     
EU butter x 0.5782* 0.1469* x x     
Oceania butter x 0.1883* 0.3510* x 0.0904***     
Crude palm oil x x x 0.3274* 0.1778*     
Crude oil Brent x x x x 0.4210*     
  1. The symbols *, ** and *** denote rejection of the null hypothesis that the corresponding parameter equals 0 at the 1, 5 and 10 % confidence level, respectively. The symbol x denotes a zero constraint